Virgin Metals Inc.

Virgin Metals Inc.

March 01, 2005 10:56 ET

Acquisition of Shares of Virgin Metals Inc.


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: VIRGIN METALS INC.

MARCH 1, 2005 - 10:56 ET

Acquisition of Shares of Virgin Metals Inc.

TORONTO, ONTARIO--(CCNMatthews - March 1, 2005) -

PRESS RELEASE pursuant to National Instrument 62-103 in compliance with
applicable securities legislation in Ontario

Virgin Metals Inc. (the "Company"), on behalf of Carl Di Placido and
Chris Berlet, wishes to announce the completion of the acquisition of an
aggregate of 5,545,747 common shares (the "Common Shares") of the
Company by Carl Di Placido and Chris Berlet from the estate of Patrick
Cavanagh and certain other parties.

As a result of the completion of the acquisitions, Carl Di Placido now
owns 3,051,208 Common Shares, representing 12.7% of the issued and
outstanding Common Shares, and Chris Berlet owns 2,494,539 Common
Shares, representing 10.4% of the issued and outstanding Common Shares.
Carl Di Placido and Chris Berlet each effected the transaction for
investment purposes.

The Common Shares are not currently listed on any exchange. Carl Di
Placido or Chris Berlet may, depending on market and other conditions,
each increase or decrease his respective beneficial ownership, control
or direction over the Common Shares, through market transactions,
private agreements, treasury issuances, exercise of convertible
securities or otherwise.

Carl Di Placido and Chris Berlet have each filed a separate report
describing the above acquisitions with the Ontario Securities
Commission, copies of which shall be sent promptly to anyone who
requests them from the Company as noted below.

The information herein has not been approved or disapproved by
regulatory authorities.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Virgin Metals Inc.
    G. Michael Hobart
    Secretary
    (416) 941-8856